我们认为这轮牛市尚未走完，牛市大格局未变。从中长期居民资产配置看，2019年我国居民59%的资产配置在房地产，远高于海外国家，这是因为过去20多年我国进行快速工业化和城镇化催生了地产长牛，往后看我们认为居民资产有望更多配置股权，股市估值中枢有望系统性抬升。

参考美股，未来A股第二档即200-800亿市值的公司有望进一步变大变强。

level=0)

df2 *

iloc[i:j]Rows position i up to but not including j (half-open).iloc[:,i:j]Columns position i up to but not including j (half-open)

len

pd.qcut

Index level names may be supplied as keys.

ts.groupby(lambda x: x.year) ....: .transform(lambda x: (x - x.mean()) / x.std()))

size() Compute group sizes count() Compute count of group

but it makes life simpler.

the Series or dict VALUES will be used to determine the groups